A local developer is looking to rezone nearly an acre in the Castleberry Hill neighborhood to make way for a 10-story apartment tower.
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Chaz Lazarian, managing director of developer Insignia LLC, filed an application with the City of Atlanta to rezone 523 Whitehall St. from industrial to mixed-use to allow for a 151-unit apartment building with street-level retail.
Lazarian said he assembled three contiguous parcels along Whitehall Street, most of which are undeveloped except for a 10K SF vacant building. The project is named Noellam, according to a press release provided to Bisnow.
While the application allows for up to 151 units, Lazarian said on a phone call Friday that he only plans to develop 144 apartments in the building.
“We own the land, and we anticipate construction to commence summer of 2025,” Insignia General Operation Director Eti Lazarian said in a statement.
The Atlanta City Council transferred the application to the city’s zoning committee and zoning review board, according to its May 20 agenda.
Insignia is pushing forward on the new apartments as the city sees a burst of multifamily units being delivered and under development.
More than 9,000 units were under construction in the first quarter of this year, according to Haddow & Co. More than 2,000 of those are in the Atlanta West submarket, which includes the 523 Whitehall site. Developers have proposed an additional 1,200 units in the submarket, according to the report.
Insignia is also redeveloping a former Kmart shopping center off Buford Highway in Doraville into a $116M mixed-use project called Lotus Grove. Announced in 2019, Insignia is completing site work and plans to break ground on a 12-story residential building this summer, Lazarian said in an email. A hotel, previously reported as a Hilton brand, and retail will break ground in Q2 2025, he said.
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